bankruptcy

Gander Mountain, one of the top outdoor retailers in the United States, filed for Chapter 11 bankruptcy protection on March 11, 2017. The retailer, which is based in Saint Paul, Minnesota, earlier addressed bankruptcy rumors by saying that it is making a move to preserve the company’s value. Gander pinned its economic woes to shifts […]

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Sungevity has found a buyer for its leftover assets. Private equity firm Northern Pacific Group wants to buy the solar electricity business. Sungevity filed for Chapter 11 bankruptcy in March and accepted an “asset purchase agreement” headed by Northern Pacific Group. That deal guarantees a maximum $20 million to finance daily operations. An alternate way […]

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Richmond-based Excel Staffing Services Inc. filed for Chapter 11 bankruptcy on Nov. 28.  The staffing agency declared assets between $100,001 and $500,000 and debts in the same range. The company is also called Excel Management Services Inc.  The bankruptcy petition will allow the company to reorganize while the court prevents its creditors from continuing its […]

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Wilbur Ross, known as America’s “king of bankruptcy”, is going to join Donald Trump’s administration as commerce secretary.  The incoming U.S. Department of Commerce in-charge is a billionaire investor that is notorious for acquiring distressed companies with the aim to generate profits. The appointment is expected to be announced very soon, according a senior transition […]

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Spice Modern Steakhouse, a neighborhood restaurant in downtown Orlando, filed its fourth a voluntary bankruptcy petition on Nov.  15. The restaurant is still open to customers and the Chapter 11 filing occurs at the same time its owners filed their bankruptcy petition. Level 1 Inc., the parent company owned by Manuel and Brea Tato, and […]

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Serio’s Market, a 66-year old grocery store in Northampton, Ma, is financially troubled and is being sued by a supplier over a $32,000 debt.  The family-owned grocery store owes a total of $60,000 to creditors, which could lead to a bankruptcy filing. Store manager Jamie Golec says the grocery store has been struggling for the […]

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A United States bankruptcy judge in Manchester has temporarily allowed the sale of the old USA Springs land in Barrington and Nottingham to a Massachusetts financier who had formerly told officials in town that he wanted to extract groundwater from the 189-acres land. The insolvent estate of USA Springs is going to sell the land […]

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Nasty Gal, the American fashion retailer for young women, is reportedly readying to file for Chapter 11 bankruptcy.  It plans to reorganize its company, according to reports. In addition, Nasty Gal founder Sophia Amoruso is reportedly stepping down as executive chairwoman, whilst Danny Rimer will resign from the board. The 10-year old company has had […]

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American aviation company Erickson Incorporation, whose main manufacturing and repairs operations are carried out in Jackson County, has sought for bankruptcy protection. Overwhelmed by debt and marred by the oil industry’s decline, the firm filed for Chapter 11 in a bankruptcy court in Dallas, Texas. Erickson said in announcement that it will continue its operations […]

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Grocery store chain Dahl’s Foods declared bankruptcy in 2014.  Currently, the bankruptcy trustee is filing a lawsuit against the board of directors who managed the retirement money of the retirees, as well as the retirees themselves. Michael Collins, one of its former employees, said he believed that he would have a work for life at […]

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